Technology Briefing | Deals: Rogers To Buy Back Stake In Unit

By Ian Austen (NYT)

Published: September 14, 2004

Rogers Communications tentatively agreed yesterday to buy back a 34 percent stake in its Rogers Wireless unit now held by AT&T Wireless. The deal, valued at 1.77 billion Canadian dollars, was widely expected as Rogers had earlier agreed to help AT&T Wireless shed its stake by the end of the month. If the transaction is approved by both companies' boards, Rogers will pay AT&T Wireless 36.37 Canadian dollars for each of the 48.6 million shares it holds. Ian Austen (NYT)